Porter’s 5 Forces: Retail 2021
March 28, 2021
A strategy classic.
Porter’s 5 Forces model helps to explain market influences as retail undergoes tremendous upheaval.
To manage fierce competition, companies can boost their bargaining power if they:
- Differentiate their offerings
- Reflect in-demand consumer trends
- Invest in e-commerce for omnichannel agility
Also, as tech-driven supply chains grow in power, companies are establishing strategic partnerships to delight consumers with convenience and quality.
What do you think is the biggest factor affecting retail today?
2021 Retail Strategy Trends
2021 Retail PEST Analysis